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Infosys Board has let down founders: Ex-Director Balakrishnan
Global software major Infosys' Board is under fire again, this time from its former Board Member V. Balakrishnan for letting down its founders by giving a whopping wage hike to Chief Operating Officer U.B. Pravin Rao.
"The present Infosys' Board has let down its founders and lost credibility to continue. Its members should be replaced with new people," Balakrishnan told IANS on Wednesday, two days after the company justified giving Rao a 70 per cent wage hike even after Co-Founder N.R. Narayana Murthy opposed it in private.
Backing Murthy for raising the red flag at a time when the Indian IT industry was facing lot of pressure due to global headwinds, he said the present Board had lost moral courage by favouring executives and ignoring employees.